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Statement b is false, because the SMC and MVC curves actually coincide. MVC shows the change in a firm's total variable cost if its output changes by one unit, while SMC shows the change in its short-run total cost if its output changes by one unit. Now, in the short-run, if a firm changes its output by one unit, it can change the quantity of the variable inputs it uses but not the quantity of the fixed inputs, so the change in its total cost equals the change in the cost of its variable inputs.
With reference to Overseas Citizen of India (OCI) Cardholder, consider the following statements:
1. A citizen of another country who was a citize...
The Constitution of India Article ______ provides for an independent office of the Comptroller & Auditor General of India (CAG).
What authority does the Supreme Court of India utilize to ensure laws and constitutional amendments adhere to fundamental principles?
The Office of Lokayukta was first established in the Indian state of
Consider the following statements about the Central Bureau of Investigation (CBI):
1. It deals only with cases of corruption and economic offense...
The Calcutta High Court is the oldest High Court in India. The High Court building's design is based on the Cloth Hall, located in _________.
Consider the following statements regarding prerogative writs:
1. Writs can be issued against private and public authorities.
2. High Cour...
Which Five Year Plan in India is often referred to as the Rao-Manmohan Singh Model of economic liberalization?
Which of the following Schedule describes Rajya Sabha seats?
A Governor gives its resignation to whom?